Glencore Posts Stronger 2016 Results but Tempers Marketing Profit Guidance; Shares Still Overvalued
Glencore posted improved 2016 results on the back of strong cost-cutting and higher marketing profits. Adjusted EBITDA rose 18% year on year to $10.3 billion, led by growth in the industrials business. Marketing operating income rose 14% to $2.8 billion, slightly above previous guidance of $2.5 billion-$2.7 billion, due to stronger performance in the second half. Going forward, we expect marketing operating income to come in at the low end of management’s guidance, given sustained headwinds in t...Glencore is engaged as a natural resource companies. Co. is organized and operates on a worldwide basis in three main business segments: Metals and minerals, which comprised of zinc, copper, lead, alumina, aluminium, ferroalloys, nickel, cobalt and iron ore; Energy products, which comprised of crude oil, oil products, steam coal and metallurgical coal; and Agricultural products, which comprised of wheat, corn, canola, barley, rice, oil seeds, meals, edible oils, biofuels, cotton and sugar supported by investments in storage, handling, processing and port facilities.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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